Direxion NASDAQ-100 Equal Weighted Index ETF (NASDAQ:QQQE) Shares Break Below 200-Day Moving Average – Time to Sell?

Direxion NASDAQ-100 Equal Weighted Index ETF (NASDAQ:QQQE) shares crossed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $113.26 and traded as low as $111.41. Direxion NASDAQ-100 Equal Weighted Index ETF shares last traded at $111.51, with a volume of 430,837 shares trading hands.

Direxion NASDAQ-100 Equal Weighted Index ETF Stock Performance

The stock has a market cap of $1.37 billion, a P/E ratio of 27.96 and a beta of 1.10. The company has a 50-day simple moving average of $119.14 and a 200-day simple moving average of $113.31.

Institutional Trading of Direxion NASDAQ-100 Equal Weighted Index ETF

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE lifted its position in Direxion NASDAQ-100 Equal Weighted Index ETF by 13.6% during the 1st quarter. Bank of America Corp DE now owns 724,041 shares of the company’s stock worth $71,340,000 after buying an additional 86,683 shares in the last quarter. Royal Bank of Canada grew its holdings in Direxion NASDAQ-100 Equal Weighted Index ETF by 37.6% during the 1st quarter. Royal Bank of Canada now owns 127,223 shares of the company’s stock worth $12,536,000 after acquiring an additional 34,755 shares during the last quarter. Independent Financial Group LLC bought a new stake in Direxion NASDAQ-100 Equal Weighted Index ETF during the 1st quarter worth about $11,817,000. MRA Advisory Group increased its position in Direxion NASDAQ-100 Equal Weighted Index ETF by 1.0% in the 2nd quarter. MRA Advisory Group now owns 72,715 shares of the company’s stock valued at $8,872,000 after acquiring an additional 743 shares in the last quarter. Finally, Ameritas Advisory Services LLC increased its position in Direxion NASDAQ-100 Equal Weighted Index ETF by 591.7% in the 2nd quarter. Ameritas Advisory Services LLC now owns 51,241 shares of the company’s stock valued at $6,252,000 after acquiring an additional 43,833 shares in the last quarter.

Direxion NASDAQ-100 Equal Weighted Index ETF Company Profile

The Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) is an exchange-traded fund that is based on the NASDAQ-100 Equally Weighted index. The fund tracks an equal-weighted version of the NASDAQ 100. QQQE was launched on Mar 21, 2012 and is managed by Direxion.